Uzbekistan Interest Rate

The Central Bank of Uzbekistan kept its key interest rate unchanged at 14% on December 11, 2025,maintain tight monetary conditions and contain inflation. Annual inflation eased to 7.5% in November, with core inflation declining to 6.3%, supported by a stronger exchange rate, lower import prices, and stable non-food prices. The bank noted that, although inflation expectations have moderated, they remain above current levels, with overall inflation projected to settle around 7.3% by year-end. Meanwhile, economic growth remained robust, with GDP expected to increase 7–7.5% in 2025, supported by stronger labor market demand, rising trade, and higher investment activity.